I think its holding here due to that inexplicable thing called Fib numbers.
.53 is the 618 pullback from the move that happened in the last hour yesterday.
Take your graphing software and choose the Fib tool. Put the chart in a 10 minute candle mode.
Place the low end of the line at the low of the 10 minute bar at 2 PM central time & the high at the high this morning.
The 618 is the level we sit at.
And this is a normal pullback. Nothing to get my panties in a wad about, IMHO.
There was a stab made just before the online interview was to begin.... a small bear raid at 11:55 AM eastern, but it was of no power because, basically, for all the bombast that has asserted that NITE and CSTI would be eviscerating this thing, there simply is no evidence of that happening.
IMHO, whats actually happening is we are seeing a staging for a power hour run today.
Thats what I think.
Watch the volumes. When you see a sign of strength in the 1 and 3 minutes, whether to the upside or the downside, that will tell you the direction they intend to run it in the latter part of the day.
Watch for a sign of strength.
Imperial Whazoo
"Just my opinions, folks. Do your own due diligence & make your own decisions. DO NOT... I repeat... DO NOT make any investment decisions on my comments. They are my opinions. That's all they are... OPINIONS."
